Cryptocurrency exchange Coinbase has picked Goldman Sachs Group Inc for its upcoming initial public offering (IPO), Reuters has learned, citing a person familiar with the matter. It remains unknown whether Coinbase plans to pursue an IPO or a direct listing.
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As iHodl recently reported, the largest cryptocurrency exchange in the US submitted a draft registration statement on Form S-1. The company said the Form S-1 is expected to become effective "after the SEC completes its review process, subject to market and other conditions."
Earlier in August, Goldman Sachs appointed a new global head of digital assets as part of a new crypto-oriented vision. Mathew McDermott, a managing director who previously was responsible for the bank’s internal funding operations, replaced Justin Schmidt, a former crypto trader and quant who was in charge of Goldman Sachs' digital assets team over the last two years.
The newly-appointed head of digital assets is confident that "in the next five to 10 years," a financial system will be totally based on a blockchain, "with all transactions natively happening on chain."
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